GroPep announces Japanese approval of biopharmaceutical that uses its cell culture products
Adelaide biotechnology company, GroPep, announced today that a biopharmaceutical product – with a key manufacturing ingredient supplied by GroPep – has received regulatory approval in Japan.
The product is the sixth biopharmaceutical made with GroPep's Cell Culture Products to have achieved regulatory approval.
Listed biopharmaceutical GroPep Limited (ASX: GRO) has today announced that a sixth biopharmaceutical product that uses the Company's Cell Culture Products in its manufacturing process, has obtained regulatory approval in Japan.
Confidentiality agreements prevent GroPep from naming the specific product or company.
While this specific approval is not likely to generate significant revenue growth for GroPep, the product is also currently undergoing clinical trials for a number of other indications, some of which have multi-billion dollar global markets. Further submissions to regulatory agencies for approval are planned for 2006 and 2007.
CEO Mr Bob Finder said that the Japanese approval reinforces the growing international recognition of the superiority of GroPep's Cell Culture Products in the manufacturing of certain biopharmaceutical products.
GroPep, based at Thebarton, South Australia, listed on the Australian Stock Exchange in August 2000. The company specialises in the development, manufacture and commercialisation of biopharmaceuticals and also biologically active proteins for cell culture and biomedical research.
Source: Eurekalert & othersLast reviewed: By John M. Grohol, Psy.D. on 21 Feb 2009
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